Godaddy (GDDY) Shares Gap Up to $70.79

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Godaddy Inc (NYSE:GDDY) shares gapped up prior to trading on Thursday . The stock had previously closed at $69.33, but opened at $70.79. Godaddy shares last traded at $72.00, with a volume of 2465675 shares trading hands.

A number of research analysts have commented on the company. Wedbush reiterated a “neutral” rating and issued a $85.00 price objective on shares of Godaddy in a research report on Thursday, September 13th. ValuEngine downgraded Godaddy from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research downgraded Godaddy from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Morgan Stanley increased their price target on Godaddy from $72.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. Finally, TheStreet raised Godaddy from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $77.60.

The company has a debt-to-equity ratio of 3.56, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $14.37 billion, a price-to-earnings ratio of 179.62, a price-to-earnings-growth ratio of 8.93 and a beta of 0.63.

Godaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.03. The company had revenue of $652.00 million for the quarter, compared to the consensus estimate of $643.59 million. Godaddy had a return on equity of 8.78% and a net margin of 5.83%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 EPS. On average, equities research analysts anticipate that Godaddy Inc will post 0.55 earnings per share for the current year.

In related news, EVP Nima Kelly sold 661 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $80.41, for a total transaction of $53,151.01. Following the sale, the executive vice president now owns 52,075 shares of the company’s stock, valued at approximately $4,187,350.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2006 Fund (Gdg) L.P. Kkr sold 3,500,000 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $75.61, for a total value of $264,635,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,800,557 shares of company stock worth $590,768,080 in the last ninety days. 7.63% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. acquired a new stake in shares of Godaddy in the 1st quarter valued at about $294,000. Northern Trust Corp raised its stake in shares of Godaddy by 3.8% in the 1st quarter. Northern Trust Corp now owns 575,546 shares of the technology company’s stock valued at $35,351,000 after purchasing an additional 21,106 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Godaddy by 10.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 16,045 shares of the technology company’s stock valued at $987,000 after purchasing an additional 1,526 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Godaddy by 16.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 305,259 shares of the technology company’s stock valued at $18,749,000 after purchasing an additional 43,664 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Godaddy by 268.6% in the 1st quarter. Hsbc Holdings PLC now owns 15,730 shares of the technology company’s stock valued at $966,000 after purchasing an additional 11,462 shares during the period. 93.61% of the stock is currently owned by institutional investors and hedge funds.

About Godaddy (NYSE:GDDY)

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

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